Mukka Proteins to Invest ₹13.19 Crore in Shipwaves Online
Mukka Proteins will invest up to ₹13.19 crore in Shipwaves Online Limited (SOL) by acquiring equity shares. SOL's FY26 turnover was ₹65.01 crore and PAT was ₹1.68 crore. The deal aims for logistics synergies and is expected to conclude by March 31, 2027. Post-acquisition, Mukka's stake will be 16.77%.
The investment amount of ₹13.19 crore is significant for Mukka Proteins, and the strategic acquisition is expected to contribute to its long-term business interests and growth, potentially impacting its market position and future performance.
The investment in Shipwaves Online Limited is strategic and aims to leverage business synergies, indicating a positive outlook for growth and expansion.
Mukka Proteins Limited has approved a strategic investment in Shipwaves Online Limited (SOL) by acquiring or subscribing to equity shares not exceeding ₹13.19 crore in one or more tranches. The investment was approved by the Board of Directors on September 1, 2026.
Shipwaves Online Limited operates in Digital Freight Forwarding and Enterprise SaaS Solutions. For the fiscal year 2025-26, SOL reported a turnover of ₹65.01 crore, a Profit After Tax (PAT) of ₹1.68 crore, and a net worth of ₹71.30 crore. Mukka Proteins Limited is a promoter group entity of SOL, making this a related party transaction, which will be conducted at arm's length.
The acquisition involves purchasing 2,93,20,000 equity shares of SOL at ₹4.50 per share, totaling ₹13.19 crore. Post-acquisition, Mukka Proteins Limited's shareholding in SOL will be 16.77%. The company anticipates potential business synergies in logistics and related businesses, supporting its long-term growth interests. The indicative time period for the completion of this acquisition is March 31, 2027.
A plain-language summary of a public exchange filing by Mukka Proteins Limited. Read the original for the full detail.